Road Asset Valuation Toolbox
The Road Alliance Valuation Project (2012-) was undertaken for the Roads and Transport Alliance (Queensland) and developed the resources presented here as the Road Asset Valuation Toolbox.
The project developed a process that utilises Department of Transport and Main Road's (TMR) data and systems to provide a resources ‘toolbox' for use by local governments in valuing their road assets.
The project involved substantial consultation and research through a close working partnership with TMR's Road Asset Management team, an ‘Expert Panel' comprised of local government accountants, asset managers and engineers who provided guidance on technical matters, and consultation with Regional Road and Transport Groups and councils both directly and through forums across Queensland. The 2013 Transport, Housing and Local Government Parliamentary Committee on the Queensland Audit Office Report on Local Government recognised the project as a leading example of the collaborative effort being made to improve asset management.
The Expert Panel was established in 2012 to review and approve the process for developing the unit rates and to review and approve the rates each year before being issued to local governments. The Expert Panel comprised of representatives from the LGAQ and TMR (for the Roads and Transport Alliance), Brisbane, Cairns, Cherbourg, Gold Coast, Toowoomba, Townsville and Western Downs local governments, Orion Consulting and the Project Consultants (Lemmah Pty Ltd and Barnewall Resources). The following agencies were observers on the panel and made a significant contribution: Queensland Audit Office (QAO), Office of the Valuer-General (VG), and the Department of Local Government, Community Recovery and Resilience.
Resources from the project include a set of definitions, specifications, and 'How To Manuals' for local roads. For valuation purposes, it is intended that the Project will provide annual updates to:
- replacement cost unit rates and
- rehabilitation cost unit rates for estimating residual values
Trials of the rates were undertaken at a number of councils across the state to test the methodology and application of standardised rates in undertaking actual road asset valuations.
Road Asset Valuation Project Overview
User Manual and FAQ
Road Asset Valuation Methodology
Road Asset Valuation Rates
Road Asset Valuation Calculation of Residual Value
Road Asset Valuation Discussion Papers
- 2013 LGFP Cairns - Valuing Council's Road Assets - Roads Alliance Valuation Project
- 2013 IPWEA Cairns - Valuing Council's Road Assets - Sharing the Same Road
- 2013 Bush Councils Longreach - Valuing Council's Road Assets
- 2013 Bush Councils Longreach - Valuing Council's Road Assets - Summary
- 2012 LGFP Cairns - Roads Alliance Valuation Project
Any questions relating to the Road Asset Valuation Toolbox may be directed to LGAQ 1300 542 700.